Last week, I did something pretty rare for a single 23-year-old: I talked with a mortgage consultant. And I found out that with some perks for first-time homebuyers 
in South Dakota, I'm actually in a pretty good position to buy a house.
And I'm scared.
Since I didn't take on debt to attend college, this will be my first experience borrowing a large sum of money. Sure, I've dealt with credit card debt, but that's a couple thousand dollars, not tens of thousands of dollars.
And this scares me.
I keep looking at the positives of buying a house. Like student loans, a mortgage is one of those "good debts" that in the long run will help you financially. Another positive: not having to listen to my neighbors' bad television choices through paper-thin walls … but I digress.
However, I still get caught up when I start thinking about that dollar amount coupled with the long-term commitment. And I keep wondering if I would have been this pensive about student loan debt. In May I'll have a full year of the "real world" under my belt. That time as an adult has definitely opened my eyes financially. But if I think back to myself as a wide-eyed 18-year-old, I doubt I'd have blinked before signing a promissory note .
Now that's scary.
What was going though your mind as you took on debt for college? Did you even give it a second thought when you signed that P-note, or were you just excited to be off to college no matter what the cost?
I don't care!!!!
In hindsight, I wish I had thought a WHOLE lot more about the student loan debt I've incurred. I know many other people who have more debt than me, but that doesn't comfort...
I racked up quite a bill to go to college and will be paying it back for many, many years.
I don't necessarily regret my education, but I really wish I'd understood what I was doing when I signed that promissory note.
Akritas – Thanks for sharing.
I actually met with my realtor last night and signed some paperwork with him. He was telling me about the paperwork you have to sign to finalize a home purchase – in some states it’s a couple inches thick. And I’ll be reading every word! :)
Hi here how are you? I am newbie in blog.wellsfargo.com so i hope i will get some friends here :)
Hey siriuslek - glad you found us and joined the conversation. Let us know what topics you'd like to talk about. And just so you know ... apparently Staci thinks it's hard to be friends with me! (See her post from June 15th) But it's not really that tough! ;)